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Wells Fargo ups tech spend 19% YoY

The bank reduced headcount by 4% YoY

Victor SwezeybyVictor Swezey
July 14, 2023
in Banking
Reading Time: 3 mins read
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Wells Fargo focused on tech spend in the second quarter as headcount continued to shrink amid a push to reduce expenses. The $1.9 trillion bank’s tech spend rose 19% year over year to $947 million, and headcount dropped 4% YoY to 233,834, according to the bank’s earnings supplement.  “I think our focus on expenses really […]

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Tags: AIearningsFederal ReservePremiumWells Fargo
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